FxWirePro: USD/MXN downside pressure builds, key support level in focus

• USD/MXN dipped  on Thursday as market participants weighed the economic impact of unresolved fiscal issues in the U.S..

• Concerns over the U.S. national debt surged as the House passed President Trump’s major tax and spending overhaul, a bill expected to significantly increase the country’s debt burden.

• The nonpartisan Congressional Budget Office estimates the legislation will add about $3.8 trillion to the U.S. federal debt, which already stands at $36.2 trillion, over the next decade..

• Wary of Trump’s unpredictable tariff moves, investors are cutting exposure to U.S. assets and shifting toward more geographically diversified portfolios.

 • At GMT 17:01, the pair was trading up  0.28 percent  at 19.313  

•  Immediate resistance is located at 19.498(50%fib), any close above will push the pair towards 19.558(May 16th high).

• Support is seen at 19.249(38.2%fib) and break below could take the pair towards 19.000(Psychological level).

Recommendation: Good to sell around 19.400 with stop loss of 19.600 and target price of 19.200